Crypto investment firm 21Shares has submitted an official registration statement with the SEC for a new exchange-traded fund (ETF) that would track the price of XRP directly. This was posted on X by watcher.guru.
This move indicates that some institutions may be optimistic about XRP’s future, despite its ongoing lawsuit with US regulators.
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JUST IN: 21Shares officially files for a spot $XRP ETF.
— Watcher.Guru (@WatcherGuru) November 1, 2024
The filing suggests 21Shares believes XRP will withstand current regulatory challenges. If approved, the ETF could drive demand for XRP from both retail and institutional investors by providing an easier way to gain exposure without needing to purchase the cryptocurrency itself.
Securing SEC approval for the XRP ETF would be a major show of acceptance from US financial authorities. Not only could it give clarity around XRP, but it may also help establish regulatory certainty for the broader crypto market.
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With an ETF in place, cryptocurrency investing could become more stable and accessible for many users. The analyst sees this as an important step towards welcoming digital assets into the traditional financial world.
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The post 21Shares Files Officially for a Spot Ripple (XRP) ETF appeared first on CaptainAltcoin.
